This paper develops a model of price formation in the housing market which accounts for non-random selection of those dwellings sold on the market from the stock of existing houses. The model also accounts for changes in the quality of dwellings themselves and tests for mean reversion in...

Theories about the importance of space in urban labor markets have emphasized the role of employment access, on the one hand, and neighborhood composition, on the other hand, in affecting employment outcomes. This paper presents an empirical analysis which considers both of these factors,...

The most significant U.S. housing subsidy programs are funded by tax expenditures through the Internal Revenue Code (IRC). Beyond the subsidy to homeownership provided to all owner occupants through the personal income tax, the IRC provides additional subsidies to specific groups of homeowners....

Research on climate change suggests that small improvements in the "sustainability" of buildings can have large effects on greenhouse gas emissions and on energy efficiency in the economy. This paper analyzes the economics of "green" building. First, we analyze a panel of office buildings...